Reuters India Business

By Krishna N. Das NEW DELHI (Reuters) – India’s Uttar Pradesh state on Thursday said Marion Biotech, whose cough syrups Uzbekistan linked to the deaths of 65 children last year, will have to file a report of “corrective and preventive action” before being allowed to reopen its factory. The statement from the state’s drug controller …

India seeks ‘corrective action’ from cough syrup firm linked to Uzbek deaths Read More »

By Aftab Ahmed NEW DELHI (Reuters) – India’s retail inflation eased to a three-month low in September on the back of softer vegetable prices, but remained above a target of 4% that the central bank has signalled would be key before easing rates. Annual retail inflation rose 5.02% in September, down from 6.83% the previous …

India’s retail inflation eases to three-month low in September Read More »

By Hritam Mukherjee and Sethuraman N R BENGALURU (Reuters) -India’s No. 3 software-services exporter HCLTech cut its revenue forecast for the current financial year on Thursday, citing softer-than-expected discretionary spending by its clients in the first half of the year. The company expects organic revenue growth for fiscal 2024 to be between 4% and 5% …

India’s HCLTech cuts FY revenue outlook as clients trim spending Read More »

By Nikunj Ohri NEW DELHI (Reuters) – India’s central bank is expected to accelerate a key process of vetting IDBI Bank’s potential buyers and complete it by October end, helping speed up the sale of a majority stake in the lender, two government sources said. The federal government, which owns 45.48% of IDBI Bank, and …

India cenbank likely to complete vetting bidders for IDBI Bank by Oct-end – sources Read More »

By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) – Many employees of Chinese smartphone maker Vivo and its Indian affiliates concealed their employment when seeking visas, and some breached rules by visiting the “sensitive” Himalayan region of Jammu and Kashmir, India’s financial crime agency has said. The court statement comes as tension rises with …

India accuses China’s Vivo of visa violations, siphoning off $13 billion Read More »

By Manoj Kumar NEW DELHI (Reuters) – Run off their virtual feet at the start of India’s festival season, e-commerce companies like Amazon and Walmart owned Flipkart are looking forward to a potentially record breaking few weeks. Any lingering fears that inflation and higher interest rates would dampen consumers’ spirit in Asia’s third largest economy, …

Clicking towards record: India’s festival season spurs online shopping spree Read More »

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s valuation against currencies of major trading partners has surged to a near two-year high on central bank intervention and elevated domestic inflation. The rupee’s 40-currency real effective exchange rate (REER) shows the rupee was overvalued by 5.7% at September-end, according to the Reserve …

India cenbank’s active rupee management stretches valuation to near 2-year peak Read More »

BENGALURU (Reuters) – Shares of India’s Tata Consultancy Services fell as much as 1.8% on Thursday, as investors worried that a recovery in demand was still not within reach after second-quarter revenue missed estimates due to weak client spending. The poor results and commentary from India’s largest IT services provider took the shine off TCS’ …

India’s TCS skids on demand recovery worries after Q2 revenue miss Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were subdued on Thursday, as a slide in information technology (IT) stocks on weak earnings by Tata Consultancy Services offset support lent by falling oil prices. The NSE Nifty 50 index was down 0.12% at 19,788.35 as of 10:05 a.m. IST, and the S&P BSE Sensex fell 0.12% …

Indian shares slip as fall in IT stocks offsets oil pullback support Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee on Thursday will be boosted by the pullback in oil prices and softer U.S. Treasury yields, while investors wait for the important U.S. inflation data due later in the day. Non-deliverable forwards indicate rupee will open marginally higher than 83.1875 in the previous session. Brent crude …

India rupee to receive help from pullback in oil, traders eye US inflation Read More »